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Will Apple Shares Be "Dirt Cheap"?

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    NEWSLETTERS

    CNBC.com

    Apple stock prices are down and whether they rise or fall will be based on the Cupertino, Calif., company's quarterly report, analysts reported Tuesday.

    Dozens of analysts are betting on what the report will say and how high the earnings will be, with independent analysts being the most bullish on Apple. (Bloggers? They predicted the lowest returns.) But the problem is that so many are predictions at 100 percent earnings growth, it Apple doesn't meet that (and $388.50 a share) by Thursday, it means the tech company could hit the lowest price-earning ratio since March 2009. (Full disclosure: I own 15 shares of Apple stock.)

    Author Andy M. Zaky makes a lot of points, but mainly he's saying that because Apple had amazing earnings for several quarters, Wall Street expects more of the same. If not, the stock market may have some big fluctuations for the tech company.

    Can Apple's performance be termed amazing this quarter and prevent a stock freefall? We shall find out Wednesday.